“For nearly two years, since the introduction of the iPhone at the 2007 Macworld show, Apple Inc.’s stock had been on a tear that was impressive even for a company that was used to being one of the top investments in the tech sector,” Rex Crum reports for MarketWatch.
“However, it can be argued that the iPhone premium officially came to an end Thursday, as Apple’s shares fell below $85 for the first time since January 9, 2007, the day Chief Executive Steve Jobs showed off the first version of the iPhone,” Crum reports.
“Through practically no fault of its own, Apple has seen its shares tumble along with the rest of the technology sector due to the global credit crisis. The iPhone continued to show signs of strength through the year, and when Apple delivered its fourth-quarter results in October, it said that it sold 6.9 million iPhones during what was the first full business quarter in which the 3G version of the device was on sale.,” Crum reports.
Full article here.
[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]